Polo, IL vs Lake Mills, IA: Cost of Living

Which city costs less?

Lake Mills, IA has a modeled overall cost index 11.7% lower than Polo, IL.

Polo, IL · modeled 2BR rent
$1,030 / month
Lake Mills, IA · modeled 2BR rent
$920 / month

These are saved estimates, not current rental listings. Some cities use adjusted regional data. Your household budget can differ from the overall index. Sources and assumptions

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Cost of Living Comparison 2026

Compare Polo, IL and Lake Mills, IA using saved regional data and explicit budgeting assumptions. Rent estimates are not live listings. Change the salary below, then check the source notes before applying a result to your household.

Saved regional estimates · Sources and assumptions

$
Numbers update automatically as you type

Estimated savings: $809/month in Lake Mills, IA

$150,000 in your current city has a modeled equivalent of $140,297 in Lake Mills, IA

Regional cost estimates: Polo, IL uses Madison, WI. Lake Mills, IA uses Minneapolis, MN. Available city ZIP rent estimates are shown separately.
Overall Cost
↓ 11.7%
Less expensive
Monthly Impact
$809
Savings
Annual Impact
$9.7K
Per year

Assumes 60% of current gross income goes to living costs. The headline uses the category budget below; taxes, moving costs and savings goals are excluded.

Polo, IL

Population:2K
Cost Index:
87.6
100 = national average
Typical Home:$164K

Lake Mills, IA

Population:2K
Cost Index:
77.4
100 = national average
Typical Home:$160K

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Polo, IL

The Prairie State

2K
Population
State Tax
Yes

Located in Illinois, this city has a population of 2K residents.

Lake Mills, IA

The Hawkeye State

2K
Population
State Tax
Yes

Located in Iowa, this city has a population of 2K residents.

Cost Breakdown by Category

Estimated monthly spending: Polo, IL vs Lake Mills, IA

Assumes 60% of your current gross income is spent on these categories. The headline and totals use this same budget. Rent estimates below are separate reference data. Rounded amounts may differ by $1.

Housing
↓ 12.6%
Polo, IL
$2,304
Lake Mills, IA
$2,015
Difference
$289
less
Other
↓ 15.0%
Polo, IL
$1,665
Lake Mills, IA
$1,415
Difference
$249
less
Transportation
↓ 15.8%
Polo, IL
$1,308
Lake Mills, IA
$1,100
Difference
$207
less
All Utilities
↓ 7.4%
Polo, IL
$517
Lake Mills, IA
$479
Difference
$38.05
less
Healthcare
↓ 2.6%
Polo, IL
$731
Lake Mills, IA
$712
Difference
$18.78
less
Groceries
↓ 0.6%
Polo, IL
$976
Lake Mills, IA
$970
Difference
$5.90
less

🏠Rent Comparison

Studio
From$710
To$680
↓ $30.00
1 Bed
From$780
To$730
↓ $50.00
2 Bed
From$1,030
To$920
↓ $110
3 Bed
From$1,260
To$1,230
↓ $30.00
Polo, ILZIP-level data

1BR range: $780–$780/mo

Lake Mills, IAZIP-level data

1BR range: $730–$730/mo

💡 Note: HUD Fair Market Rents estimate 40th-percentile gross rents, including most tenant-paid utilities. City ZIP summaries are medians of those estimates, not market median rents. Actual prices vary by neighborhood, amenities, and condition. Source: HUD Small Area Fair Market Rents FY2026.

$7,500
Monthly in Polo, IL
$6,691
Monthly in Lake Mills, IA
$809
Difference

Home Values

Polo
Lake Mills
$164K
Median Value
$160K
↑ +10.5%
YoY Change
↑ +9%
↑ +28.4%
5-Year Change
↑ +28.3%

Homes in Lake Mills are 2% less expensive than Polo

Calculate payment - PoloCalculate payment - Lake Mills

Source: Zillow Home Value Index (ZHVI), January 2026

Tax Comparison

Annual tax burden comparison at $150.0K salary

Tax Savings
↓ $3.3K
More taxes
Monthly Difference
$273
Less take-home
Effective Rate Diff
2.2%
Rate difference

Polo, IL

Federal Income Tax
Effective: 18.9%
$25.5K
Illinois State Tax
Effective: 5.0%
$7.4K
FICA Taxes
Social Security + Medicare
$11.5K
Total Taxes
Effective: 29.6%
$44.4K
Take-Home Pay
$8,797/month
$105.6K

Lake Mills, IA

Federal Income Tax
Effective: 18.9%
$25.5K
Iowa State Tax
Effective: 7.1%
$10.7K
FICA Taxes
Social Security + Medicare
$11.5K
Total Taxes
Effective: 31.8%
$47.7K
Take-Home Pay
$8,524/month
$102.3K

Additional Tax Information

Polo, IL Tax Rates

Sales Tax:8.8%
Property Tax:2.2%

Lake Mills, IA Tax Rates

Sales Tax:7.4%
Property Tax:1.5%

💡 Note: Tax calculations are estimates based on 2024/2025 tax brackets for single filers with standard deduction. Actual taxes may vary based on filing status, deductions, credits, and local variations.

Environment

Polo
Lake Mills
42 Good
Air Quality
42 Good
72.1%
Good Air Days
66.4%
94 Moderate
Climate Risk
98 High
🌊🌪💨
Top Hazards
🌊🌡🌪
▲+3.4°F
2050 Outlook
▲+3.6°F
10 days
Heat Days >95°F
14 days
▲+3.4°F
2050 Outlook
▲+3.6°F
10 days
Heat Days >95°F
14 days

Before moving from Polo, IL to Lake Mills, IA

Use this comparison to shortlist a move, then check the costs that depend on your household.

  1. Compare actual homes. Get current quotes in Lake Mills, IA for the same bedroom count and included utilities as your home in Polo, IL. Add parking, deposits, insurance and any overlapping leases. The rent estimates above are a starting point, not available listings.
  2. Confirm your income. Check your expected pay with your employer, including any location adjustment. Use “Different salary at destination?” above to compare two incomes. The budget model excludes taxes and one-time moving costs; it is not a take-home-pay calculation.
  3. Price your daily routine. Check the commute from a specific address to work, school or childcare. Add household expenses missing from this model, such as childcare, debt payments and medical needs. Verify local services before signing a lease.
  4. Plan the transition. Get moving quotes and budget for travel, setup costs and time off. Open your Polo to Lake Mills moving checklist to organize the tasks and timing.

Still choosing a destination? Explore cities similar to Lake Mills, IA by cost, housing, population and region.

Frequently Asked Questions: Polo, IL vs Lake Mills, IA

How do the cost estimates for Polo, IL and Lake Mills, IA compare?

Lake Mills, IA has a modeled overall cost index 11.7% lower than Polo, IL. This is a broad model comparison, not a survey of today's prices or a forecast of your household spending. Some cities use adjusted regional fallback data.

What does the equivalent salary mean?

At a $150,000 salary in Polo, IL, the model estimates $140,297 in Lake Mills, IA. It allocates 60% of gross income to the origin city’s category budget and applies each destination category’s relative cost. The equivalent salary adds the total category difference to your income. The monthly difference is the same category difference divided by 12; it is not take-home pay or guaranteed savings. Household size, childcare and your actual lease are not inputs to this calculation.

What rent estimates are available for Polo, IL and Lake Mills, IA?

The modeled two-bedroom rents are $1,030/month in Polo, IL and $920/month in Lake Mills, IA. Where available, the source is a city median of HUD FY2026 ZIP-level estimates; otherwise a saved metro table is used. City adjustments may also apply. These are not asking rents or available listings. Compare actual properties with the same bedroom count and included utilities.

How should I use this comparison before moving?

Use it to shortlist locations, then replace modeled costs with a current housing quote, employer-confirmed income, commute costs, insurance and your household's other expenses. Add one-time moving costs separately. Source years differ and the saved datasets are not a live price feed. Read the methodology for the formulas and fallback rules.

💰 See how taxes change too — compare take-home pay between Illinois and Iowa on TaxTakeHome.com

Where your money goes further

Cities cheaper than Polo, IL on a $150.0K salary

1.St. Louis, MO
Save $33.49/mo
2.Indianapolis, IN
Save $3.53/mo

Similar cost to Lake Mills, IA

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